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maxonik [38]
3 years ago
12

Shen has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Valerie,

whom Shen has wanted to date for a long time, asks him to a party. Shen would prefer to go to the party with Valerie and forgo the opera, but he doesn't want to waste the $100 he spent on the opera ticket. From the perspective of an economist, if Van decides to go to the party with Amy, what has he just done?
1. Incorrectly allowed a sunk cost to influence his decision

2. Made a choice that was not optimal

3 Correctly ignored a sunk cost
Business
1 answer:
iren [92.7K]3 years ago
7 0

Answer:

3. Correctly ignored a sunk cost

Explanation:

Sunk costs refer to those costs which have been incurred in the past, which are non recoverable and which have no current or future benefits.

Sunk costs are considered as irrelevant for decision making process as they do not relate to current period and have no future implications. For example, research and development expenditure incurred in the past represents a sunk cost.

In the given case, the ticket for opera was already purchased for $100 which can now neither be recovered nor transferred. Thus this cost is irrelevant for decision making as expenditure has already been made. When Shen decided to go for a party instead of the concert, Shen has correctly ignored a sunk cost.

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Which of the following tactics might public sector unions use to increase management's cost of disagreeing with the union positi
rjkz [21]

Answer:

D. All the above are legal tactics that the union can use to pressure management to accept the union's position on an issue.

Explanation:

Each and everyone one of the options mentioned above are tactics adopted by the union in pressuring management to accept their position on most of the issues which they have or are arguing about.

5 0
3 years ago
A consumer products company produces inexpensive goods in underdeveloped markets, then repackages them as cost-effective innovat
Ksenya-84 [330]

Answer:

B) False

Explanation:

Glocalization is a term that combines both globalization and localization. It was first used during the 1980s in Japan to define a way of thinking and developing business strategies: think locally and act globally.

Back in the 1980s Japan's economy was booming, it was the second largest economy in the world and Japanese car manufacturers and technological firms were wiping out the competition. This term refers to the western interpretation of Japanese business strategies of that decade, of selling similar but differentiated products everywhere.

E.g. American car manufacturers used to complain that Japanese consumers wouldn't buy their cars in Japan, but they simply had the steering wheel on the wrong side and Japanese consumers were not willing to even try them for that reason.

Luckily, things have changed and American companies also realized that their reality is not necessarily the reality of the rest of the world, and you must adapt your products to different markets.  

5 0
3 years ago
Examine the scenarios to determine the protected status, unprotected status, existence, or non-existence of a trade secret.
DedPeter [7]

Answer:

Protected status

Explanation:

In simple words, the trade secret is said to be protected when it has an economic value to the founding company or the company handling it and anyone who is exposed to the information regarding that is legally bound to not to disclose it.

Thus, from the above we can conclude that the given scenario indicates protected status.

6 0
2 years ago
The terms of an invoice are 3/10, n/25. this means that a ________ of the invoice date.
const2013 [10]

The terms of an invoice are 3/10, n/25 this means that a <u>discount of 3% is allowed if the invoice is paid within 10 days</u> of the invoice date.

3/10, n/25 this means that a 10% cash discount is available if the invoice is paid within 10 days, pay the net price if covered within 25 days of the invoice date. Discounts are reductions of the normal fee of a product or service with the purpose to obtain or growing income.

Trade discount refers to the deduction given by using the supplier to the purchaser within the catalog price of the goods. Cash discount implies the allowance granted to the clients by means of the supplier on the billing fee, for immediate payment.

A cash discount also referred to as a purchase cut price or income discount, is a reduction in the purchase fee of an excellent because of an early cash charge. In different words, the seller of products is inclined to lessen the fee of the goods if the purchaser is inclined to pay for the coolest in advance.

Learn more about cash discounts here brainly.com/question/14883253

#SPJ4

7 0
2 years ago
Riverbed Company designated Jill Holland as petty cash custodian and established a petty cash fund of $236. The fund is reimburs
11Alexandr11 [23.1K]

Answer:

The journal entry is shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

Petty cash A/c Dr  $236

To Cash A/c $236  

(Being establishment of the fund is recorded )

Office supplies A/c Dr  $94

Misc. Expense A/c Dr $89

Cash Over / Short Dr $22             ( $236 - $31 - $89 - $94)

To Cash A/c  $205                        ( $236 - $31)

(Being Reimbursement of the fund is recorded)

5 0
3 years ago
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